Husband-and-wife team Doron and Orly Peleg formed RiskWise Property Research in 2016 after identifying the need for a risk-based approach to property investment.
"Our good friends made very poor investment decisions thanks to incorrect advice and fanfare about Central Queensland being the next property hotspot, as advised by a broad panel of well-known property experts," Mr Peleg said.
"Unfortunately, this was not the case and as soon as the mining boom ended, areas such as Gladstone and Mackay came to a standstill and lots of investors lost a lot of money.
"Put simply, it was very clear to us that no appropriate comprehensive risk-return analysis had taken place."
It was the catalyst for a startup that has brought risk management in the residential space to the forefront of media attention and is the No.1 topic around the office water coolers.
The report stirred policy makers into action on both political spheres, bringing to their attention the need for a comprehensive risk-management approach when it comes to the property market. Even the Assistant Federal Treasurer is talking to the media about the report and the implications it has on policy-making decisions.
RiskWise was formed in Sydney with the goal of providing property risk advise and research services. A recent move to Queensland, has seen its vision grow to become a global leader in property risk rating and research providing its clients, which include lenders, corporations, private investors, home buyers, property professionals and other institutional clients with detailed risk information to support smarter decision-making.
Doron has more than 20 years’ experience in risk management including being a co-founder and managing partner of Peleg, Kessel & Co, an assurance and advisory accounting firm in Tel-Aviv, Israel, and executive manager at Westpac Banking Corporation in Sydney from 2011 to 2016. Chief Operating Officer (COO), Orly, is a Certified Internal Auditor (CIA) and Information Systems Auditor (CISA) with experience in senior positions in major corporations including Westpac, Zurich Insurance and Toyota Financial Services and together they co-developed the property risk-rating algorithm.
"To me, the Top 3 things an entrepreneur needs are good ideas, ability to deal with and adapt to constant changes and uncertainties and, obviously, strong execution skills," Mr Peleg said.
"RiskWise has a strong team behind it and since starting in 2016 has been at the forefront of the property news agenda.
"In a sense we’ve become myth busters, debunking the so-called ‘hotspot’ phenomenon in quite a few cases. Who would have believed in 2011 and 2012 that investing in mining towns was not actually a good idea or that high crime areas can enjoy solid capital growth in the right conditions?
"We’ve also identified areas where property capital growth is likely and those places to stay away from. We saw well in advance that the Sydney market was going to cool and have been warning about unit oversupply in the capital cities for quite some time now.
"As experts in risk management and property investment, and considering the significant risks associated with property investment in an ever-changing market, we have a very clear objective … to implement a risk-based approach to residential property across all market layers, from the major banks and LMI providers, through to corporations and also to property professionals and investors."
Mr Peleg said the company forecast strong strategic growth in the next few years with plans to move to New Zealand, followed by the UK and then the US. ---
